Morning Mantra - 1st August 2023

Dear All,

Just as we had stated yesterday that after observing the formation of a Doji pattern on the Day chart, we are expecting a bounce back in Nifty. Likewise, we did experience the same yesterday itself.

Another positive factor here is that we can now observe the formation of a Hammer pattern on the chart of Nifty. So it is somehow indicating a further uprise in the Market, which altogether is being expected to be witnessed today itself.

So, once again we are with our words that above 19800, we will be ready for our psychological figure of 20000.

Furthermore, in the meanwhile with the stop loss of 19550, continue Rebalancing your Portfolio and keep following the Cherry Picking Strategy for now.

Regards,
Alok Daiya
SEBI Registered Research Analyst